Built on the oil revenue that’s transformed Norway into one of the richest and best places to live on the planet, the fund lost 14.5 percent of its value through September. The third quarter was the worst in its 18-year history.He doesn't appear to have done worse that others who studied economics and finance.
“We burned our fingers, and we’re not very happy about that,” says Slyngstad, 46, a former scholar of German philosophy who’s wearing a gray pinstripe suit and brown-and-white polka-dot tie on this unseasonably mild November day.
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From 1987 to ‘91, while in his late 20s, Slyngstad backpacked around Asia, Latin America and Africa. He paid his way by working in Norway for six weeks every year. In 1990, he took a six-month break from his sojourn to live alone in Tysfjord in a fisherman’s cabin north of the Arctic Circle.
There, on the banks of Norway’s second-deepest fjord, he immersed himself in the writings of two German philosophers. The first, Georg Wilhelm Friedrich Hegel, developed a system that analyzes contradictions to help one reach a comprehensive understanding that encompasses history, the spirit and the physical world. The second, Martin Heidegger, believed that Western philosophy had misunderstood the nature of being and that a new inquiry must be conducted by retracing the steps of history.
“Reading philosophy presses the borders of your thinking,” Slyngstad says. “It’s not irrelevant when thinking about risks.”